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[brief comment on lead in SMM] lead delivery and moon exchange coexist in Shanghai at night or continuous interval concussion
Jul 15,2019 17:24CST
translation
Source:SMM
Shanghai lead report grows the Shangying Xiaoyin line and runs along the middle rail of Bolin Road, the upper 60-day EMA still has strong pressure, but the 5-day EMA is upward, and it is expected that Shanghai lead will continue to operate in the range formed by the 5-day and 60-day EMA at night.
The content below was translated by Tencent automatically for reference.

SMM, July 15 / PRNewswire-Asianet /-

During the day, the Shanghai lead 1908 contract opened at 16105 yuan / ton, at the beginning of the day, bulls worried about the strong pressure of the 60-day moving average, and left the market one after another. Shanghai lead once fell through the 10,000 hurdles and reached 15965 yuan / ton. After that, the overall strength of non-ferrous metals led to the return of low Shanghai lead levels, followed by pressure on the daily average, and a concussion around 16050 yuan / ton. Finally, it closed at 16060 yuan / ton, down 20 yuan / ton, down 0.12%, and the position was reduced by 3012 hands to 40834 hands.

Another main contract to 1909 contract, within days, Shanghai lead main 1909 contract opened at 16105 yuan / ton, at the beginning of the day, Shanghai lead all the way down to 15980 yuan / ton, after some short positions chose to profit from the market, Shanghai lead returned to 16055 yuan / ton platform operation, finally closed at 16040 yuan / ton, down 35 yuan / ton, down 0.22%, position increased 1906 hands to 43188 hands. Shanghai lead report grows the Shangying Xiaoyin line and runs along the middle rail of Bolin Road, the upper 60-day EMA still has strong pressure, but the 5-day EMA is upward, and it is expected that Shanghai lead will continue to operate in the range formed by the 5-day and 60-day EMA at night.

In addition, the delivery of the 1907 contract within the day was completed, opened at 16070 yuan / ton, at the beginning of the day, some bulls left the market, the center of gravity of lead in Shanghai was once moved down to 15940 yuan / ton, and then the capital wanted to raise the settlement price, pulling up the lead price twice, and finally closing at 16000 yuan / ton, the settlement price was 15990 yuan / ton, which was on the low side compared to the intraday settlement price of 1908 contracts (16065 yuan / ton). With reference to the trading price of electrolytic lead in today's trade market, the trading price of electrolytic lead is more than 1908 yuan / ton. Therefore, the traders who take over the source of delivery have considerable profit margins. The delivery volume was 16575 tons, nearly double the normal delivery volume, and to some extent caused the market to worry about the lead price in the future. The trading volume increased by 16575 hands to 1050 hands, and the position increased by 40 hands to 6630 hands.

(Guo Rong of Shanghai Color Network Tel: 021 51666879)

 

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